EU unveils trillion-euro single energy market

The European Union's energy chief Wednesday unveiled an ambitious 10-year trillion-euro energy investment plan for a single EU energy network to cut fossil fuel imports and fight climate change.

Rethinking investment risk

Financial innovation is supposed to reduce risk—in theory, at least. Yes, new financial instruments based on the housing market helped cause the financial crisis of 2008. But in the abstract, those same instruments have ...

Can solar energy help save Greece?

What happens to renewable energy programs in a country that gets whacked by a full-scale debt crisis, like the one that struck Greece beginning in 2009—do the programs whither and die in the winds of austerity? And how ...

China produces as much CO2 per person as Europe: report

China's carbon dioxide (CO2) levels soared in 2011, putting its per capita emissions on a par for the first time with those of Europe, while global levels of the greenhouse gas hit another all-time high, a report released ...

Cuba to use sugar cane in new electricity plant

Cuba will open its first electricity plant using sugar cane as a biofuel hoping eventually to meet 30 percent of its energy needs from the fuel source, the official Granma daily said Thursday.

2009 global research outlays down, but not China

(AP) -- The economic crisis cut corporate research and development spending 1.9 percent worldwide in 2009 but China defied the trend, increasing its research investments by a whopping 40 percent.

Five billion people to use mobile phones in 2010: UN

The ranks of cell phone subscribers will swell to five billion people this year thanks to the growth of smartphones in developed nations and mobile services in poor nations, a UN agency said Monday.

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Financial crisis

The term financial crisis is applied broadly to a variety of situations in which some financial institutions or assets suddenly lose a large part of their value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults.

Many economists have offered theories about how financial crises develop and how they could be prevented. There is little consensus, however, and financial crises are still a regular occurrence around the world.

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